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Market Chatter: Woolworths Group Allegedly Telling Suppliers to Lower Costs or Face Product Removal

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Woolworths Group (ASX:WOW) is allegedly asking its suppliers to accept new terms to maintain prices at low levels or risk having their products removed from the supermarket chain's shelves, the Australian Financial Review reported Tuesday, citing multiple suppliers who requested anonymity.

Elizabeth Sarofim, a competition and consumer lawyer who deals with dispute resolution between suppliers and grocers, said an increasing number of suppliers have voiced concerns about being coerced by Woolworths on prices, according to the report.

The company did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Market Chatter: Korea Exchange to Extend Trading Hours till 8PM

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